This week, it has been revealed that lessor Azorra has purchased 12 Airbus A220-300s from EgyptAir, as they aim to seek to help the airline further.
Transactions like this are normal in the industry, with this no doubt being under a sale and leaseback arrangement to save costs.
Without further ado, let’s get into it…
Lessor Azorra Purchases 12 Airbus A220-300s from EgyptAir…
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Commenting on the transaction was John Evans, CEO and Founder of Azorra:
“Our strong partnerships with Airbus and Pratt & Whitney have been key to facilitating this creative transaction.”
“These young, well-maintained aircraft with freshly overhauled, updated engines from Pratt & Whitney have strong market demand and are very attractive to Azorra’s rapidly growing customer base.”
“We are so grateful for EGYPTAIR’s trust and confidence in Azorra to provide a fleet transition solution, while clearing the path for new Airbus widebody aircraft.”
Adding to this was Eng. Yehia Zakria, CEO & Chairman of EGYPTAIR Holding:
“We highly value the creativeness shown by Azorra. We are thankful to the team for their commitment which led to such a successful transaction.”
Such a transaction now means that Azorra will add these 12 Airbus A220-300s to their current orderbook and portfolio.
Looking ahead, all eyes will be on how many more purchases the lessor will make from other operators of the aircraft type.
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